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twitterPT’s takes on Canadian partner
Thursday, Oct. 8, 1998 | 12:06 p.m.
A Canadian real estate firm said today it completed its purchase of 50 percent of P.T's in the Las Vegas area.
P.T.'s has 17 operating pubs and other facilities with 339 gaming devices, 14 other properties in various stages of development and the associated U.S. Coin Co. slot route company.
Buying half the company for $9 million is Revenue Properties Co. Ltd. of Toronto.
P.T's will continue to be managed by its founding principals, Philip and Thomas Boeckle, who keep a 50 percent ownership interest.
The deal has been approved by Nevada gaming regulators.
Revenue Properties owns Pan Pacific Development Inc., which owns shopping centers in Las Vegas and nationwide.
Pan Pacific in turn owns RPC Gaming Inc., a company that used to distribute gaming machines.
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